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TMI Blog2009 (8) TMI 783X X X X Extracts X X X X X X X X Extracts X X X X ..... ee were accepted by the Assessing Officer with regard to the non-applicability of section 14A of the Act - He, thus, submits that the very same issue which was considered in favour of the assessee ought to have been challenged by the Revenue - The Revenue has practically conceded to the submission made by the assessee - In view of the above, quash and set aside the order of the Tribunal to the extent it directs consideration of the applicability of section 14A of the Act. - 1460 of 2009 - - - Dated:- 26-8-2009 - DAGA V. C., DEVADHAR J. P., JJ. JUDGMENT Heard learned counsel for the appellant and the learned counsel appearing for the Revenue. The appeal is admitted on the following substantial question of law : "Whether the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... satisfied by the order of the Commissioner of Income-tax (Appeals), the appeal was further carried to the Tribunal. The Tribunal accepted the contentions canvassed by the appellant. However, the matter is restored back to the Assessing Officer observing in para. 11 that the Assessing Officer need to reconsider the issues including that of the disallowance of expenditure on the touchstone of section 14A of the Act applying the ratio of its own judgment in the case of ITO v. Daga Capital Management P. Ltd. [2008] 199 TTJ 289 ; [2009] 312 ITR (AT) 1 (Mum) [SB]. Being aggrieved by the later part of the order of the Tribunal referable to section 14A of the Act, the appellant has invoked the appellate jurisdiction of this court under section 260A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sions to the logical end. He practically conceded that the finding of the Tribunal to the extent it directs consideration of applicability of section 14A of the Act and the ratio of Daga Capital Management P. Ltd. could not have been recorded by the Tribunal and expressed no objection for deletion or to set aside the order of the Assess-ing Officer to the extent it is objected to by Mr. Mistri. Consideration 9. Having considered the rival submissions, the contention raised by Mr.Mistri deserves acceptance. The Revenue has practically conceded to the submission made by the assessee. In view of the above, we quash and set aside the order of the Tribunal to the extent it directs consideration of the applicability of section 14A of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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